Crop Progress Update – 10/15/19
According to USDA, corn dent, maturation & harvest figures and soybean leaf dropping & harvest figures remained significantly below previous year levels through the second week of October. The current corn crop identified to be in good or excellent condition declined slightly from the previous week but was consistent with average analyst expectations while the soybean crop identified to be in good or excellent condition increased from the previous week, finishing above average analyst expectations.
Corn:
Corn dent as of the week ending Oct 13th was 96% complete, finishing behind last year’s pace of 100% and the five year average pace of 100%. Corn dent progress finished at a record low seasonal pace.
Corn maturation as of the week ending Oct 13th was 73% complete, finishing behind last year’s pace of 96% and the five year average pace of 92%. Corn maturation progress finished at a record low seasonal pace.
Corn harvest progress as of the week ending Oct 13th was 22% complete, finishing behind last year’s pace of 38% and the five year average pace of 36%. Corn harvest progress finished at a ten year low seasonal pace and was below average analyst expectations of 24% completed.
Corn harvest progress finished most significantly behind five year average figures throughout Illinois, followed by Montana and Missouri.
55% of the current corn crop was identified to be in good or excellent condition as of the week ending Oct 13th, down one percent from the previous week. The current corn crop identified to be in good or excellent condition finished below last year’s figure of 68% but was consistent with average analyst expectations. 15% of the current corn crop was identified as very poor or poor, unchanged from the previous week and remaining three percent above last year’s figure.
The percentage of the current corn crop identified to be in good or excellent finished at a six year seasonal low level for the week ending Oct 13th while the percentage of the current corn crop identified to be in poor or very poor condition finished at the highest level experienced throughout the past six years.
Soybeans:
Soybean leaf dropping as of the week ending Oct 13th was 85% complete, finishing behind last year’s pace of 94% and the five year average pace of 93%. Soybean dropping leaves progress finished at a 29 year low seasonal pace.
Soybean harvest progress as of the week ending Oct 13th was 26% complete, finishing behind last year’s pace of 37% and the five year average pace of 49%. Soybean harvest progress finished at a ten year low seasonal pace but was slightly above average analyst expectations of 25% completed.
Soybean harvest progress finished most significantly behind five year average figures throughout North Dakota, followed by Minnesota and South Dakota.
54% of the current soybean crop was identified to be in good or excellent condition as of the week ending Oct 13th, up one percent from the previous week. The current soybean crop identified to be in good or excellent condition remained below last year’s figure of 66% but was above average analyst expectations of 52%. 14% of the current soybean crop was identified as very poor or poor, down one percent from the previous week but remaining three percent above last year’s figure.
The percentage of the current soybean crop identified to be in good or excellent finished at a six year seasonal low level for the week ending Oct 13th while the percentage of the current soybean crop identified to be in poor or very poor condition finished at the highest level experienced throughout the past six years.